Posted on February 6, 2026
Europe is tightening the net on Russian oil being shipped through its waters, squeezing Moscow’s ability to fund its war even as officials and business executives in Russia fear the window is narrowing to reach a peace deal before the economy deteriorates.
The ban would significantly ratchet up the sanctions imposed on Russian oil, replacing the current oil price cap system, and comes as 14 European nations including Britain, France and Germany warned last week they could intercept the shadowy fleet of tankers Russia created to help it evade sanctions operating in breach of international maritime law.
New European measures to crack down on Russia’s shadow fleet could severely hurt its economy at a time when it is looking increasingly vulnerable.
Europe is tightening the net on Russian oil being shipped through its waters, squeezing Moscow’s ability to fund its war even as officials and business executives in Russia fear the window is narrowing to reach a peace deal before the economy deteriorates.
